Westlake Law Firm, P.C. - Divorce Basics

Introduction: This is a list of some of the issues that couples who are planning to live together might consider putting into a legal contract. The goal is to draft an agreement which will outline a back out plan in the event of a breakup. I realize that this is not exactly something anyone wants to contemplate at the start of a live-in relationship, however it is ideally what all couples should do.

1. The separate assets and debts which each person possesses and is responsible for prior to the start of the live in arrangement.

2. How to handle assets and debts acquired during the relationship. Will assets be considered jointly held property irrespective of title? Will assets be titled to the person who paid for the asset? Will you title assets with a view to survivorship? Upon breakup, will there be an equal split of jointly acquired property or will you split in proportion to contribution?

3. How will bills be handled? Will you establish a household account? What will be the contribution commitment? Equal? In proportion to income? What bills will be paid from the joint account?

4. Will you each keep your own separate credit card accounts and be separately responsible for them or will there be a joint credit card account?

5. What about gifts? If there are gifts to the couple, how will they be handled?

6. Do you want a commitment to go to counseling if things begin to go badly in the relationship?

7. How about a dispute resolution clause to be used in the event of a disagreement? You could agree to first use mediation, and in the event that mediation failed - binding arbitration.

8. Will you be sharing earned income? If so, in what proportion?

9. Do you want to say that in the event of a breakup - neither shall have a claim to support from the other? Such a statement is not necessary in NYS, but it may help to be clear on this at the start.

10. How will household chores be divided?

11. Do you want to agree to make out wills leaving jointly acquired property to the other?

12. If you are building a house or going into business together and one person is contributing carpentry skills, do you want to provide that in the event of a breakup and buy out, the carpenter will be compensated for his/her contribution at his/her hourly rate? Do you want to say the opposite, i.e. that any contribution of labor is a gift and not to be compensated for in calculating a later buy out figure?

13. Anything else that is important to the two of you even if unenforceable. In other words, this is your personal document - be creative - make it meaningful and special to you.

Note: For large items purchased subsequent to the signing of your living together contract, I suggest a separate contract. A separate contract for an item such as a house, car, or major appliance can state the agreed upon payment plan, whose credit card was used, a buy out provision, and a survivorship provision. The separate written contract should also provide for mediation or for selling the item in the event of a dispute.